Common use of Segregation of Assets Clause in Contracts

Segregation of Assets. (a) The assets of each Series shall be a segregated pool of assets of the Trust pursuant to Section 3806(b)(2) of the Delaware Statutory Trust Statute and the related Units shall be separate series of the Trust within the meaning of Sections 3804(a) and 3806(b)(2) of the Delaware Statutory Trust Statute. (b) Each Series Trust Agreement (or the Master Terms attached thereto) shall contain a provision substantially similar to the following: The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Series described in this Series Trust Agreement shall be enforceable against the assets of this Series only, and not against the assets of the Trust generally or the assets of any other Series. Further, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Trust generally or any other Series shall be enforceable against the assets of this Series. (c) Each contract and agreement entered into by the Trust shall state the Series to which such contract or agreement relates and shall contain an express provision to the effect that all liabilities and obligations under such contract or agreement shall be enforceable against the assets of such Series only and not against the assets of the Trust generally or the assets of any other Series; provided, however, the failure to include such provision shall not be deemed to effect the limitation of liability of a Series as described in this Trust Agreement.

Segregation of Assets. (a) The assets of each Series shall be a segregated pool of assets of the Trust pursuant to Section 3806(b)(2) of the Delaware Statutory Trust Statute and the related Units shall be separate series of the Trust within the meaning of Sections 3804(a) and 3806(b)(2) of the Delaware Statutory Trust Statute. (b) Each Series Trust Agreement (or the Master Terms attached thereto) shall contain a provision substantially similar to the following: The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Series described in this Series Trust Agreement shall be enforceable against the assets of this Series only, and not against the assets of the Trust generally or the assets of any other Series. Further, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Trust generally or any other Series shall be enforceable against the assets of this Series. (c) Each contract and agreement entered into by the Trust shall state the Series to which such contract or agreement relates and shall contain an express provision to the effect that all liabilities and obligations under such contract or agreement shall be enforceable against the assets of such Series only and not against the assets of the Trust generally or the assets of any other Series; provided, however, the failure to include such provision shall not be deemed to effect the limitation of liability of a Series as described in this Trust Agreement.